Tex. Water Code Section 66.403
Distribution of Assets

(a)

If at the time a district is dissolved, the district has any surplus funds in any of its accounts, the board shall transfer those funds to the county that assumes jurisdiction over the facilities conveyed by the district, and the county receiving the funds shall use those funds to maintain the facilities conveyed.

(b)

If more than one county assumes jurisdiction over district facilities, the board shall transfer the funds to each county based on the proportion of the proceeds of all indebtedness incurred by the district to acquire the land and construct the facilities conveyed to that county.

Added by Acts 1985, 69th Leg., ch. 734, Sec. 1, eff. Sept. 1, 1985.

Source: Section 66.403 — Distribution of Assets, https://statutes.capitol.texas.gov/Docs/WA/htm/WA.66.htm#66.403 (accessed Jun. 5, 2024).

66.001
Definitions 66.011
Creation 66.012
Purpose of District 66.013
Composition of District 66.014
Petition 66.015
Contents of Petition 66.016
District Name 66.018
Notice and Hearing on District Creation 66.019
Commission Findings and Decision 66.020
Appeal of Commission Order 66.021
Temporary Directors 66.101
Board of Directors 66.102
Qualification of Directors 66.118
Rules 66.201
General Powers 66.202
Plan for Facilities 66.216
Transfer of Land and Facilities 66.217
Effect of Transfer 66.218
Transfer in Portions 66.303
Annual Budget 66.304
Amending Budget 66.310
Issuance of Bonds 66.311
Manner of Repayment of Bonds 66.313
Form of Bonds 66.314
Provisions of Bonds 66.315
Approval by Attorney General 66.316
Refunding Bonds 66.317
Bonds as Investments 66.318
Bonds as Security for Deposits 66.319
Mandamus by Bondholders 66.320
Application of Other Laws 66.321
Tax Status of Bonds 66.322
Levy of Taxes 66.324
Board Authority 66.325
Tax Rate 66.326
Tax Appraisal, Assessment, and Collection 66.401
Petition for Dissolution 66.402
Order to Dissolve District 66.403
Distribution of Assets 66.404
Effect of Commission Order

Accessed:
Jun. 5, 2024

§ 66.403’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._water_code_section_66.403

Original Source: Section 66.403 — Distribution of Assets, https://statutes.capitol.texas.gov/Docs/WA/htm/WA.66.htm#66.403 (last accessed Jun. 5, 2024).